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Official website of the President of Russia

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Law on increasing competitive capacity of Russian banks signed

March 15, 2013

Vladimir Putin signed Federal Law On Amendments to Certain Legislative Acts of the Russian Federation

The law aims to make Russia’s banks more competitive.

It amends the Federal Law On Banks and Banking Activity, the Federal Law On the Russian Federation Central Bank (Bank of Russia), and the Federal Law On Currency Regulation and Currency Control. The amendments prohibit foreign banks from opening branches in Russia.

March 15, 2013